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At the end of December 2016, the company managed approximately ₹57,998 crore in assets and ranked among the ten largest companies in the Indian mutual fund industry.<ref>{{Cite web |title=idfc mutual fund: Team Bandhan leads race to buy IDFC Mutual Fund |url=https://economictimes.indiatimes.com/industry/banking/finance/banking/team-bandhan-leads-race-to-buy-idfc-mutual-fund/articleshow/90673966.cms?from=mdr |access-date=20 September 2026 |website=The Economic Times |language=en-IN}}</ref>
At the end of December 2016, the company managed approximately ₹57,998 crore in assets and ranked among the ten largest companies in the Indian mutual fund industry.<ref>{{Cite web |title=idfc mutual fund: Team Bandhan leads race to buy IDFC Mutual Fund |url=https://economictimes.indiatimes.com/industry/banking/finance/banking/team-bandhan-leads-race-to-buy-idfc-mutual-fund/articleshow/90673966.cms?from=mdr |access-date=20 September 2026 |website=The Economic Times |language=en-IN}}</ref>
== Acquisition by Bandhan consortium ==
In April 2022, a consortium led by Bandhan Financial Holdings agreed to acquire IDFC Asset Management Company and IDFC AMC Trustee Company for ₹4,500 crore (approximately US$548 million).<ref>{{cite news |title=Bandhan-led consortium buys IDFC's mutual fund business for Rs 4,500 cr |url=https://www.business-standard.com/article/companies/bandhan-consortium-to-acquire-idfc-amc-from-idfc-for-rs-4-500-cr-122040601414_1.html |work=Business Standard |date=6 April 2022 |access-date=20 September 2026}}</ref> The consortium comprised Bandhan Financial Holdings, GIC, and ChrysCapital, with an ownership structure of 60%, 20%, and 20%, respectively.<ref>{{cite news |title=Bandhan, ChrysCap, GIC team up to buy IDFC MF for ₹4,500 cr |url=https://www.livemint.com/companies/bandhan-financial-chryscapital-and-gic-team-up-to-buyout-idfc-mutual-fund-for-rs4-500-cr-11649255699576.html |work=Mint |date=7 April 2022 |access-date=20 September 2026}}</ref><ref>{{Cite web |last=Singh |first=Rajiv Ranjan |date=2022-04-08 |title=Mutual Bandhan of IDFC points out Indian market's global appeal |url=https://www.fortuneindia.com/enterprise/mutual-bandhan-of-idfc-points-out-indian-markets-global-appeal/107721 |access-date=20 September 2026 |website=Fortune India |language=en}}</ref>
The transaction was subject to regulatory approvals. The [[Competition Commission of India]] approved the proposed divestment in August 2022.<ref>{{cite news |title=IDFC stock ends 4% higher after CCI approves divestment of IDFC AMC |url=https://www.business-standard.com/article/markets/idfc-stocks-ends-4-higher-after-cci-approves-divestment-of-idfc-amc-122080201420_1.html |work=Business Standard |date=2 August 2022 |access-date=14 September 2026}}</ref><ref>{{Cite web |title=CCI approves acquisition of stake in IDFC Asset Management Company Limited and IDFC AMC Trustee Company Limited by Bandhan Financial Holdings Limited, ChrysCapital and GIC |url=https://www.pib.gov.in/Pressreleaseshare.aspx?PRID=1847454&reg=48&lang=2 |website=pib.gov.in}}</ref> Bandhan Financial Holdings acquired the controlling stake in Bandhan AMC and the trustee company on 31 January 2023.<ref name="AMFISAI" />
On 13 March 2023, the fund house adopted the Bandhan brand. IDFC Asset Management Company became Bandhan AMC Limited, IDFC Mutual Fund became Bandhan Mutual Fund, and the term "IDFC" in the scheme names was replaced with "Bandhan".<ref name=":1" /><ref>{{Cite web |last=Kishore |first=Kundan |date=2022-12-01 |title=IDFC Mutual Fund Will Now Be Bandhan Mutual Fund. How Will It Affect Your Investments? |url=https://www.outlookmoney.com/news/idfc-mutual-fund-will-now-be-bandhan-mutual-fund-how-will-it-affect-your-investments--news-241588 |access-date=2026-09-14 |website=Outlook Money |language=en}}</ref>
Bandhan Financial Holdings became the sponsor of the mutual fund.<ref>{{cite news |title=Bandhan-led consortium buys IDFC's mutual fund business for Rs 4,500 cr |url=https://www.business-standard.com/article/companies/bandhan-consortium-to-acquire-idfc-amc-from-idfc-for-rs-4-500-cr-122040601414_1.html |work=Business Standard |date=6 April 2022 |access-date=14 September 2026}}</ref>

Revision as of 06:49, 20 September 2026

History

The company was incorporated on 20 December 1999 as ANZ Grindlays Asset Management Company Private Limited by the Australia and New Zealand Banking Group (ANZ).[1][2] The mutual fund it managed was constituted as a trust on 29 December 1999 under the Indian Trusts Act, 1882. Its trust deed was registered in Mumbai,[3] and the fund received registration from the Securities and Exchange Board of India (SEBI) on 13 March 2000.[4]

In 2000, ANZ sold its Grindlays Bank operations in India to Standard Chartered.[5][6][7] On 30 May 2008, Infrastructure Development Finance Company (IDFC) acquired the equity and preference shares held by Standard Chartered, along with the equity held by minority shareholders.[4] The company was subsequently renamed IDFC Asset Management Company Limited.[8][9]

At the end of December 2016, the company managed approximately ₹57,998 crore in assets and ranked among the ten largest companies in the Indian mutual fund industry.[10]

Acquisition by Bandhan consortium

In April 2022, a consortium led by Bandhan Financial Holdings agreed to acquire IDFC Asset Management Company and IDFC AMC Trustee Company for ₹4,500 crore (approximately US$548 million).[11] The consortium comprised Bandhan Financial Holdings, GIC, and ChrysCapital, with an ownership structure of 60%, 20%, and 20%, respectively.[12][13]

The transaction was subject to regulatory approvals. The Competition Commission of India approved the proposed divestment in August 2022.[14][15] Bandhan Financial Holdings acquired the controlling stake in Bandhan AMC and the trustee company on 31 January 2023.[4]

On 13 March 2023, the fund house adopted the Bandhan brand. IDFC Asset Management Company became Bandhan AMC Limited, IDFC Mutual Fund became Bandhan Mutual Fund, and the term "IDFC" in the scheme names was replaced with "Bandhan".[8][16]

Bandhan Financial Holdings became the sponsor of the mutual fund.[17]

  1. ↑ Pandya, Aabhas. "ANZ Grindlays AMC set to unveil debt fund". https://m.rediff.com/business/2000/mar/24mfnews.htm. 
  2. ↑ "Figure 1. Comparison of A.D.B.P. scores under two criterions" (in en). https://www.researchgate.net/figure/Comparison-of-ADBP-scores-under-two-criterions_fig1_47619066. 
  3. ↑ "Selling Grindlays in India was a mistake: ANZ chief" (in en). 2012-08-15. https://www.thehindubusinessline.com/money-and-banking/Selling-Grindlays-in-India-was-a-mistake-ANZ-chief/article20485268.ece. 
  4. ↑ 4.0 4.1 4.2 Cite error: Invalid <ref> tag; no text was provided for refs named AMFISAI
  5. ↑ Panchal, Salil. "With signs of swifter reforms, ANZ plans larger India footprint" (in en). https://www.forbesindia.com/article/special/with-signs-of-swifter-reforms-anz-plans-larger-india-footprint/37960/1. 
  6. ↑ Rebello, Joel (2012-11-27). "Rising trade, migration attract Australian banks to India" (in en). https://www.livemint.com/Money/nKGVlctUPGWzkJaVGeFJ9M/Rising-trade-migration-attract-Australian-banks-to-India.html. 
  7. ↑ Treanor, Jill (2000-04-28). "Standard Chartered snaps up Grindlays" (in en-GB). The Guardian. ISSN 0261-3077. https://www.theguardian.com/business/2000/apr/28/15. 
  8. ↑ 8.0 8.1 Bazaz, Shivani (2023-03-11). "IDFC Mutual Fund to rebrand as Bandhan Mutual Fund effective March 13 - CNBC TV18" (in en). https://www.cnbctv18.com/personal-finance/idfc-mf-rebrand-bandhan-mutual-fund-16144081.htm. 
  9. ↑ Khanna, Surbhi (2026-02-23). "Which mutual funds have the highest exposure in IDFC First Bank?". The Economic Times. ISSN 0013-0389. https://economictimes.indiatimes.com/mf/analysis/which-mutual-funds-have-the-highest-exposure-in-idfc-first-bank/articleshow/128708152.cms?from=mdr. 
  10. ↑ "idfc mutual fund: Team Bandhan leads race to buy IDFC Mutual Fund" (in en-IN). https://economictimes.indiatimes.com/industry/banking/finance/banking/team-bandhan-leads-race-to-buy-idfc-mutual-fund/articleshow/90673966.cms?from=mdr. 
  11. ↑ "Bandhan-led consortium buys IDFC's mutual fund business for Rs 4,500 cr". Business Standard. 6 April 2022. https://www.business-standard.com/article/companies/bandhan-consortium-to-acquire-idfc-amc-from-idfc-for-rs-4-500-cr-122040601414_1.html. 
  12. ↑ "Bandhan, ChrysCap, GIC team up to buy IDFC MF for ₹4,500 cr". Mint. 7 April 2022. https://www.livemint.com/companies/bandhan-financial-chryscapital-and-gic-team-up-to-buyout-idfc-mutual-fund-for-rs4-500-cr-11649255699576.html. 
  13. ↑ Singh, Rajiv Ranjan (2022-04-08). "Mutual Bandhan of IDFC points out Indian market's global appeal" (in en). https://www.fortuneindia.com/enterprise/mutual-bandhan-of-idfc-points-out-indian-markets-global-appeal/107721. 
  14. ↑ "IDFC stock ends 4% higher after CCI approves divestment of IDFC AMC". Business Standard. 2 August 2022. https://www.business-standard.com/article/markets/idfc-stocks-ends-4-higher-after-cci-approves-divestment-of-idfc-amc-122080201420_1.html. 
  15. ↑ "CCI approves acquisition of stake in IDFC Asset Management Company Limited and IDFC AMC Trustee Company Limited by Bandhan Financial Holdings Limited, ChrysCapital and GIC". https://www.pib.gov.in/Pressreleaseshare.aspx?PRID=1847454&reg=48&lang=2. 
  16. ↑ Kishore, Kundan (2022-12-01). "IDFC Mutual Fund Will Now Be Bandhan Mutual Fund. How Will It Affect Your Investments?" (in en). https://www.outlookmoney.com/news/idfc-mutual-fund-will-now-be-bandhan-mutual-fund-how-will-it-affect-your-investments--news-241588. 
  17. ↑ "Bandhan-led consortium buys IDFC's mutual fund business for Rs 4,500 cr". Business Standard. 6 April 2022. https://www.business-standard.com/article/companies/bandhan-consortium-to-acquire-idfc-amc-from-idfc-for-rs-4-500-cr-122040601414_1.html. 
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